Hess Corp. CEO on Playing Defense

Hess Corp. boss John Hess has advice for CEOs who face challenges from activist investors.

This transcript has been automatically generated and may not be 100% accurate.

... my father started driving a truck in nineteen thirty three ... and built a refining marketing costs ... that was the right strategy for that ... since I had been CEO ... we have been transforming our company two nd in key business which is the right strategy ... for this time ... in terms of generating higher returns and having more opportunities to grow ... the superior and sustainable shareholder value ... so this ... transformation ... is something that has been ongoing ... so these were the final pieces that we accelerated last year ... corporate governance ... he is going through its own changes right now ... and the guidelines are changing in terms of corporate governance ... and I will always do what's right for all of our shareholders ... so while it was a challenging decision ... it was the right decision for me to make and I ... did make it ... we have an outstanding chairman ... in Mark Williams ... he brings a wealth of boiling gas experience ... that he had was enjoying his career Shell ... to the boardroom ... and he and I have an excellent working relationship ... it is critical to have the right strategic plan ... and make sure that you have stress tested it and it is really the optimum plan for your shareholders ... in you bring into a central culmination point ... it is also equally important to communicate your plan ... to your constituents specifically your shareholders ... and make sure that they understand that they they have a chance to give you their feedback and that you build the line ... and then once that alignments there on that plane EUR laserlike focus execution ... at the same time ... have a sense of urgency about delivering that execution ...